Metal Stocks in Demand as US signs trade deal with China

Metal-stock-rise-on US-china signs

Stock market indices are trading in a positive zone with the Nifty clocking new highs at 12,242 in the afternoon session.

The Sensex traded higher by 67 points at 41,520 at 2.50-pm. At intraday high levels, the Nifty recorded at 12,311.20 and Sensex scaled at 41700-mark.

As per the latest news reports, the United State will sign the first phase of the outstanding trade deal with China likely on January-15, US President Donald Trump tweeted.

The Metal company stocks picked up responding to the news. The Nifty Metal index advanced 2% on the NSE in the afternoon session. The index touched a high and low of 2,864.55 and 2,803.20 respectively at intraday.

The metal stock rally was fulled by Coal India, Welspun Corp, SAIL, Hindustan Zinc and Vedanta among others. However, JSW Steel and Hindustan Copper slipped at nominal extents now. Track the best updated stock market news and the Best Stock trading tips here.

Shares in Tata advanced over 2% after its domestic Q3FY20 sales volume jumped by 17% quarter on quarter with strong market trends. Sales volume to the auto segment was kept intact during the quarter.

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